Rules for Pooled Plans

healthcareAs a way to give small businesses the opportunity to offer their employees a workplace-based retirement savings option that is easy and inexpensive to maintain, the Department of Labor moved to establish rules for Pooled Employer Plans or PEP. According to the law, pooled plan providers will need to register with the Labor and Treasury secretaries in advance and once registered, can begin operating PEPs as early as January 1, 2021. The goal for the option, which was made possible by the Secure Act of 2019, is to make saving for retirement cost-effective for more employees throughout the U.S.

sip-newsletter

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s